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RBA’s Lowe Keeps Door Open to Further Hike, Eyes Services Prices
Australia’s central bank chief Philip Lowe said monetary policy has now entered a “recalibration phase” under which the board will likely only need to make small adjustments in response to data. Speaking in his final semi-annual testimony as Reserve Bank governor at Parliament House in Canberra on Friday, Lowe said policymakers are keeping their options open on further tightening as they assess which way services prices and household consumption break. “It’s really only been roughly this year where policy has moved into restrictive territory and we’re still seeing the effects of that,” Lowe told ... (full story)
